Telecom min may not stall Aircel ops sale

"Any objection to a proposed sale by the telecom department will happen only if there are violations in terms of the licensing agreement and the terms and conditions therein.Pankaj Doval | TNN | Updated: July 21, 2016, 09:05 IST

New Delhi: The telecom ministry is understood to have decided against halting a proposed sale of mobile operations by Maxis-owned Aircel at a time when there are investigations against the company's Malaysian promoters by the CBI and the Enforcement Directorate.

The telecom company, which has around 80 million customers and holds spectrum worth Rs 25,000 crore, is in advanced merger talks with Anil Ambani's Reliance Communications for its 2G and 3G mobile business after striking a spectrum trading deal for 4G business with Airtel. Official sources said that there are "no violations on licensing" that have been noticed with regards to Aircel's existing mobile business.

"Any objection to a proposed sale by the telecom department will happen only if there are violations in terms of the licensing agreement and the terms and conditions therein. We have not found any such issue so far," an official source said.

"Also, there have not been any demand by the CBI or ED against any proposed sale of spectrum by Aircel," the source added.

Activist and whistleblower Prashant Bhushan recently wrote a letter to the ED and the CBI, seeking the attachment of spectrum held by Aircel in view of the investigations against the company's promoters who are understood to have a majority stake. Any such move would have derailed the proposed merger talks of Aircel with RCOM. In case of violations on licensing front, the action could include cancellation or suspension of telecom licence. "There are no such issues that we have noticed in Aircel's case," the source said.